Iamgold Corp. [IAG] moved up 9.61: Why It’s Important

Iamgold Corp. [NYSE: IAG] closed the trading session at $3.65. The company report on March 31, 2024 at 5:00 PM that IAMGOLD Announces First Gold Pour at Côté Gold.

All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

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Toronto, Ontario–(Newsfile Corp. – March 31, 2024) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) is pleased to announce that it has completed its first gold pour at the Côté Gold Mine (“Côté Gold” or “Côté”), located in Ontario, Canada. Côté Gold is operated as a joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. (“Sumitomo”).

The stocks have a year to date performance of 44.27 percent and weekly performance of 22.48 percent. The stock has been moved at 72.17 percent over the last six months. The stock has performed 40.38 percent around the most recent 30 days and changed 43.14 percent over the most recent 3-months.

If compared to the average trading volume of 7.82M shares, IAG reached to a volume of 12705005 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Iamgold Corp. [IAG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IAG shares is $3.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IAG stock is a recommendation set at 2.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Iamgold Corp. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on September 12, 2023. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $2 to $3.25. The new note on the price target was released on May 01, 2023, representing the official price target for Iamgold Corp. stock.

The Average True Range (ATR) for Iamgold Corp. is set at 0.16, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 0.74.

IAG stock trade performance evaluation

Iamgold Corp. [IAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.48. With this latest performance, IAG shares gained by 40.38% in over the last four-week period, additionally plugging by 72.17% over the last 6 months – not to mention a rise of 35.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IAG stock in for the last two-week period is set at 77.12, with the RSI for the last a single of trading hit 82.64, and the three-weeks RSI is set at 72.88 for Iamgold Corp. [IAG]. The present Moving Average for the last 50 days of trading for this stock 2.74, while it was recorded at 3.27 for the last single week of trading, and 2.52 for the last 200 days.

Iamgold Corp. [IAG]: An insightful look at the core fundamentals

Iamgold Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.77 and a Current Ratio set at 1.19.

Earnings per share (EPS) analysis for Iamgold Corp. [IAG] stock

With the latest financial reports released by the company, Iamgold Corp. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 200.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IAG.

Iamgold Corp. [IAG]: Institutional Ownership

The top three institutional holders of IAG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in IAG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in IAG stock with ownership which is approximately 5.8386%.

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